Sandretto starts out afresh, from Pont Canavese

As announced on July 24 by Scout One, the extraordinary shareholders’ meeting has decided to transform the “Sandretto” business unit (acquired from the Brazil-based Romi Group on September 19 last year) into a public limited company, to be called Sandretto SpA, and to transfer its headquarters to the company’s historical site at Pont Canavese (near Turin, Italy). Thus, Sandretto is being re-launched with a share capital exceeding 420,000 euros and a capital base of almost 8 million euros. Fausto Ventriglia, sole administrator of the company, revealed that the 2013 financial statements, in spite of the acquisition of the business unit through a new company, showed a positive operating result. In addition, the restructuring plan submitted to the trade unions and to the Piedmont Region is in progress: so far, the parent company Photonike has invested over 3.5 million euros, mainly destined for the restructuring, safety and upgrading of the machinery installed at the Pont Canavese facility, as well as for the development, prototyping and testing of the new moulding machines which will be introduced at the Plast 2015 trade fair in Milan, where the company aims to relaunch itself on the market as a leading and innovative international player. Ventriglia also added that important technology partnerships have been forged with primary Italian suppliers. Finally, the company announced that the executive staff and management recruitment process is almost complete, while the construction of the sales and after-sales network, through which it will be present in the most important countries of the world, is well under way.